Trustee Randolph N. Osherow Seeks to Clawback Transfers From 29 Defendants in A’gaci LLC’s Bankruptcy Case
May 20, 2021, Western District of Texas – Plaintiff Trustee Randolph N. Osherow for the bankruptcy estate of A’gaci, LLC (the “Debtor”) accuses several creditors to avoid and recover transfers “approximately worth $3.2 million and for related reliefs under Sections 502(d), 547 and 550” of title 11 of the Bankruptcy Code, and Rule 7001(1) of the Federal Rules of Bankruptcy Procedure.
Earlier last week, Trustee Osherow brought about twenty-nine complaints in United States Bankruptcy Court for the Western District of Texas against many creditors of the in the Debtor, claiming that during the (90) day period before the petition date, the Debtor continued to operate its business affairs, including the transfer of property, either by checks, cashier checks, wire transfers, direct deposit or otherwise to certain entities. The Trustee alleges that those transfers are “liable to be returned to the bankruptcy estate under Section 550 and Sec. 547 of the Bankruptcy Code as alleged preferences”. United Parcel Service is the largest case in the group and is sued for a “return of $705, 212.16 as alleged preferences”.
Before the petition date, the Debtor retailed apparel. The company sold tops, bottoms, dresses, shoes, and accessories for women and served clients in the United States. On August 7, 2019, the Debtor filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Western District of Texas, San Antonio Division. The case is pending before the Honorable Ronald B. King. Eric. The case is In re A’gaci, LLC, case number – 19-51919. Terry Law, PLLC is representing the Debtor in the bankruptcy case.